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JPY Daily News
JPY Driving Down Bumpy Road
The Japanese Yen faced some difficulties at the end of last week; trading up around 99.10 in today's early trading hours against the USD. Japan's economic data revealed that manufacturing orders dropped significantly as a result of decreased exports from lower demand. The economic slowdown is rearing its ugly head in places which are often overlooked, as seen in the Asian economies recently.
China's announcement this weekend of an over $500 billion stimulus package may give a much needed boost to the Japanese stock market, as well as an increase to regional trade and capital flows. It will likely not provide the necessary strength to hold off the upcoming recession, however. If international Interest Rates are slashed further, according to the G20's recent call for such an action, the value of the JPY as the base of most carry trades will likely fall, generating a further appreciation to the Yen's value.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 11/10 | ||||||||
| 06:00 | JPY |  Prelim Machine Tool Orders | y/y | -20.1% | * | -40.4% |  | |
| 23:50 | JPY | Bank Lending | y/y | 1.6% | * | - | | |
| 23:50 | JPY | Current Account | 0.90T | 1.02T | - | | ||
| 23:50 | JPY | M2 Money Stock | y/y | 2.2% | 2.2% | - | | |
